AUD/USD: Layers of Support Noted. The AUD/USD continues to look heavy following the recent failures to test the Oct 18 highs but with the 21-DMA ($1.0286), rising daily channel base and the pivotal $1.0290 level supporting, we will continue to look for a close below to return focus to retests of the Oct monthly lows. While above this region hopes remain for a retest of the Oct 18 highs.
RES 4: $1.0518 – High Sept 21
RES 3: $1.0472 – High Sept 28
RES 2: $1.0413 – 21 day upper Bollinger band
RES 1: $1.0411 – High Oct 18
LATEST PRICE: 1.0330
SUP 1: $1.0290 – Alternating support/resistance
SUP 2: $1.0157 – 21 day lower Bollinger band
SUP 3: $1.0105 – 50% retracement of $0.9584-$1.0624 move
SUP 4: $0.9972 – Low June 25
NZD/USD: $0.8080-00 Region Seen As Key Support. Both 100 and 200-DMA’s come in around the double daily bottom at $0.8083 today increasing the significance of this support. The failure to retest the Oct 5 highs remains a concern with the pair looking heavy as a result. For now the $0.8080-00 region remains key support with the pair looking like retesting this region.
RES 4: $0.8469 – 2012 high Feb 2012
RES 3: $0.8356 – Monthly high Sept 28
RES 2: $0.8264 – High Oct 5
RES 1: $0.8241 – High Oct 25
LATEST PRICE: 0.8187
SUP 1: $0.8160 – Hourly support Oct 25
SUP 2: $0.8103 – Low Oct 23
SUP 3: $0.8083 – Double daily bottom Sept 10 & 11
SUP 4: $0.8013 – 38.2% retracement of $0.7461-0.8356 move
AUD/JPY: Retreat From Aug Highs A Concern. AUD/JPY is currently finding support just ahead of the 200-DMA (Jpy82.24) but continues to remain heavy following the failed spike towards the Aug monthly highs. Layers of support in the Jpy81.20-70 region including the 21-DMA (Jpy81.21) and 100-DMA (Jpy81.38) are key with a close below needed to shift focus back to the Oct monthly lows.
RES 4: Jpy87.57 – High Mar 27
RES 3: Jpy86.81 – High Apr 2
RES 2: Jpy84.81 – High Apr 13
RES 1: Jpy83.56 – Monthly high Aug 21
LATEST PRICE: 82.45
SUP 1: Jpy81.65 – Low Oct 22
SUP 2: Jpy81.38 – Low Oct 22
SUP 3: Jpy81.26 – Previous daily resistance now support
SUP 4: Jpy79.05 – 21 day lower Bollinger band
USD/KRW: Consolidates But Remains Heavy. An inside day to start the week for USD/KRW as it consolidates above 2012 lows and a double daily bottom. Daily tech studies remain in oversold territory but a close above the 21-DMA is needed to relieve the immediate downside pressure. The 21 day lower Bollinger band (Krw1097.0) continues to head lower with spikes below expected to continue.
RES 4: Krw1134.7 – 200 day moving average
RES 3: Krw1124.8 – Previous key daily support now resistance
RES 2: Krw1117.4 – High Oct 11
RES 1: Krw1108.0 – 21 day moving average
LATEST PRICE: 1098.2
SUP 1: Krw1095.2 – 2012 low Oct 25
SUP 2: Krw1073.0 – Falling daily channel base
SUP 3: Krw1060.4 – Monthly low Sept 2
SUP 4: Krw1048.3 – 2011 low Aug 1
USD/SGD: Inside Day To Start The Week. USD/SGD remains heavy as it consolidates with an inside day to start the week. The 21-DMA remains initial resistance with falling channel top just above. We continue to look for a close above the Sept 26 highs as confirmation of an end to the current downtrend but for now the immediate focus remains on continued fresh 2012 lows.
RES 4: Sgd1.2372 – High Sept 11
RES 3: Sgd1.2339 – High Sept 26
RES 2: Sgd1.2278 – Falling daily channel top from June 1 highs
RES 1: Sgd1.2248 – 21 day moving average
LATEST PRICE: 1.2210
SUP 1: Sgd1.2195 – 2012 low Oct 22 2012
SUP 2: Sgd1.2153 – 2012 low Sept 14 2012
SUP 3: Sgd1.2049 – Low Sept 6 2011
SUP 4: Sgd1.1977 – Falling daily channel base
EasyForexNews Research Team